Senior Listening

There are four Medicare Enrollment Periods. In this month’s Senior Listening, I will cover two of the four. In March’s Senior Listening, I will cover the last two: Open Enrollment and Special Enrollment.

Initial Enrollment: Medicare Initial Enrollment Period is the seven-month period that begins three months before your 65th birthday, the month of your birthday and ends three months after.

This seven-month period is vital for you to determine how you plan to provide for your health insurance. During this time, you can sign up for Part A as its free if you have enough work credits.

Medicare Part A will work with your other coverage by either being primary or secondary. You may then sign up for Part B. If you decline part B you need to ensure that the insurance, you have is considered creditable (as good as Medicare or better) or you may have a part B penalty added to your premium when you do enroll in part B. That penalty lasts your lifetime.

If you are not collecting Social Security when you turn 65 your Medicare enrollment is up to you to initiate. You can apply at SSA.gov, call SSA 1-800-772-1213 or visit your closest SSA office.

General Enrollment: General Enrollment occurs Jan. 1 through March 31 of each year. This is your second chance to enroll in Part A or Part B or both if you missed your initial enrollment.

Enrolling in Medicare during this period could result in a lifetime penalty if you had no other form of creditable coverage. When you enroll during this period your coverage starts the first of the month after you enroll. Besides accruing a penalty, you may find you have a coverage gap if you lost your other creditable coverage before your Medicare starts. You have eight months after coverage from your employer ends to sign up without incurring a penalty, so timing is important!

The General Enrollment is also the time you can join an Advantage plan if you get Part B for the first time or switch from one Advantage Plan to another or drop your Advantage Plan and go back on Original Medicare. (It is important for you to know to enroll in an Advantage Plan you must have both Part A and B of Medicare).

You cannot switch from Original Medicare to an Advantage Plan during this period. You can only make one change during this time.

• What is considered creditable coverage: Large employer group plans, Union-sponsored group plan and Federal Employee Health Benefits.

• What is not creditable coverage: TRICARE, Veteran’s benefits, COBRA, CHAMPVA, retiree plans and Individual Marketplace plans.

• NOTE: HSA contributions (including employer- provided ones) are disallowed when other coverage is in place, including Medicare Part A. Workers can still enroll in HSA-eligible plans and use funds already in HSAs for eligible expenses; they just cannot contribute further once they are enrolled in Medicare. Again, timing is important.

If you have any questions, you can call 1-800-551-3191 to be connected with a SHIP counselor.